Wealthfront Advisers LLC Makes New Investment in CION Investment Co. (NYSE:CION)

Wealthfront Advisers LLC acquired a new position in CION Investment Co. (NYSE:CION - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm acquired 605,152 shares of the company's stock, valued at approximately $6,899,000. Wealthfront Advisers LLC owned 1.14% of CION Investment at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of CION. Apollon Wealth Management LLC raised its holdings in shares of CION Investment by 81.4% in the 3rd quarter. Apollon Wealth Management LLC now owns 45,687 shares of the company's stock worth $544,000 after purchasing an additional 20,498 shares during the period. Harbour Investments Inc. raised its holdings in shares of CION Investment by 17.3% in the 3rd quarter. Harbour Investments Inc. now owns 18,149 shares of the company's stock worth $216,000 after purchasing an additional 2,679 shares during the period. Endowment Wealth Management Inc. raised its holdings in shares of CION Investment by 2.6% in the 3rd quarter. Endowment Wealth Management Inc. now owns 58,330 shares of the company's stock worth $694,000 after purchasing an additional 1,489 shares during the period. OneDigital Investment Advisors LLC grew its stake in shares of CION Investment by 7.2% in the third quarter. OneDigital Investment Advisors LLC now owns 196,724 shares of the company's stock valued at $2,341,000 after buying an additional 13,182 shares in the last quarter. Finally, Advisors Asset Management Inc. grew its stake in shares of CION Investment by 130.6% in the third quarter. Advisors Asset Management Inc. now owns 49,673 shares of the company's stock valued at $591,000 after buying an additional 28,129 shares in the last quarter. 32.01% of the stock is currently owned by hedge funds and other institutional investors.

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CION Investment Stock Performance

Shares of CION stock traded down $0.15 during trading hours on Friday, reaching $11.37. The company had a trading volume of 676,303 shares, compared to its average volume of 269,494. CION Investment Co. has a twelve month low of $10.52 and a twelve month high of $12.71. The company has a market capitalization of $606.07 million, a P/E ratio of 7.74 and a beta of 1.11. The stock's fifty day simple moving average is $11.78 and its 200 day simple moving average is $11.74.

CION Investment (NYSE:CION - Get Free Report) last posted its earnings results on Thursday, March 13th. The company reported $0.35 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.36 by ($0.01). CION Investment had a net margin of 31.21% and a return on equity of 11.49%. The company had revenue of $87.91 million during the quarter, compared to analyst estimates of $54.11 million. As a group, equities analysts expect that CION Investment Co. will post 1.78 earnings per share for the current year.

CION Investment Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be paid a dividend of $0.36 per share. The ex-dividend date is Friday, March 28th. This represents a $1.44 dividend on an annualized basis and a yield of 12.66%. CION Investment's dividend payout ratio (DPR) is presently 228.57%.

CION Investment Company Profile

CION Investment Corporation is a business development company. It specializes in investments in senior secured loans, including unitranche loans, First Lien, second lien loans, long-term subordinated loans, and mezzanine loans; equity interests such as warrants or options; and corporate bonds; and other debt securities in middle-market companies.